Tech sell-off drives US markets down by nearly $1tn after subpar earnings
US stock markets fell sharply on Friday as disappointing tech earnings and concerns over artificial intelligence spending triggered a major sell-off.
Nasdaq suffers biggest weekly drop
The Nasdaq composite index dropped more than 3% in value during the session. This decline erased hundreds of billions of dollars from the technology-heavy exchange within a single week.
S&P 500 closes in red
The S&P 500 index fell by more than 1% to record its worst day since June. Investors expressed growing worries that the current frenzy around artificial intelligence technology has pushed prices too high.
Dow Jones shows smaller decline
The Dow Jones Industrial Average dropped 572 points, representing a fall of 1.1%. This index performed better than its peers but still lost significant market value as the broader tech sector weakened.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- The Guardian
- South China Morning Post
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2 independent outlets. Headlines as published. Links open the original report.